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Week+3+Overview.docx - Course MGMT650 Course Title...

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Course #: MGMT650 Course Title: Statistics for Managerial Decision Making Week 3: Introduction to Probabilities: determining the numerical value that indicates the chance, or likelihood, of a specific event occurring. These measure help managers make educated decisions for their companies. Learning Objectives: 1. Discuss the different types of probabilities (classical, empirical, subjective) 2. What are the basic properties and rules used in calculating probabilities? 3. Probability rules for more than one event. Reading: Introduction to Probability http://davidmlane.com/hyperstat/probability.html http://solr.bccampus.ca:8001/bcc/file/b98db368-2b3d-4f32-97d5-837719f2fcce/1/Introductory %20Business%20Statistics.pdf https://saylordotorg.github.io/text_introductory-statistics/s07-basic-concepts-of-probability.html Events and Sample Spaces http://www.math.uiuc.edu/~kkirkpat/SampleSpace.pdf Simple Probability https://www.youtube.com/watch?v=AY3O_qsSnbE Joint Probability https://www.youtube.com/watch?v=crSggPmiUiA General Addition Rule https://www.youtube.com/watch?v=QE2uR6Z-NcU
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